JPMorgan, Schwab, UBS, and Stephens Managed Trump Investments
In 2025, JPMorgan Chase, Charles Schwab, UBS, and Stephens Inc. managed at least four of President Donald Trump's eight numbered investment accounts, according to a report by CNBC based on his annual financial disclosure filed with the Office of Government Ethics. The total assets across all eight accounts were reported as at least $858 million—up from no more than $237 million in 2024—with over 21,000 transactions recorded for that year. Schwab was identified as having a significant role, managing two of the largest accounts: one with $163 million and another with approximately $302 million. JPMorgan faced legal action from Trump after he accused it of closing his business accounts due to political motives; the bank denies these claims. The report highlights concerns about reputational risks for institutions handling Trump's assets, given his global business interests. Trump’s financial disclosure also revealed over $1.4 billion in cryptocurrency income and more than 3,700 transactions recorded just in Q1 of 2026 alone.
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Topics: Charles Schwab Donald Trump investment_accounts JPMorgan Chase Stephens Inc. UBS